>> kate snow is back here with us. what do most people do, who use pawn shops? do they default and walk away? >> no. actually pawngo will tell you that 15 to 20% default. 80 to 85% don't, they pay off the loan, which is exactly what they want. they want you to pay off the loan and then hopefully come back another time and another time and another time. that's where they're making their money. >> because, as he says, unlike a bank, when you default on a bank, they don't ever want to see you again. this guy is happy to have you back. >> this has no affect on your credit score, he never reports it to a credit rating agency. so, yeah, they want you back. they don't want your stuff. they really -- he said we'll sell it to wholesalers if we have to, but they're not in the retail business. >> and yet this is not jpmorgan chase, and we should point out these interest rates are just south of loan shark. >> exactly. i mean 6% a month for the first three months adds up to 18%, right? so you borrow $1,000, you've got to pay $180 on top of that plus the $1,000 that you borro